Simpson Manufacturing Co., Inc. (SSD) SEC Filings & Earnings Calls

Tariff exposure on fasteners and anchors

“we expect that the proposed tariffs would primarily impact our North America segment as we procure fasteners and a small number of other products from countries that will be subjected to these tariffs.” · word for word

Declining U.S. housing starts

“Overall U.S. housing starts have been decreasing year over year since 2021.” · word for word

Rising steel costs

“Rising steel costs in the second half of 2026 will also create margin pressure.” · word for word

Foreign exchange volatility

“We also experienced increased foreign currency exchange rate volatility, which we attribute, in part, to the rapidly changing global trade environment.” · word for word

North America volume decline due to softer market, partially offset by pricing actions

“partially offset by lower volumes tied to a softer market” · word for word

U.S. housing starts down 0.6% YoY on trailing twelve month basis, indicating potential headwind for demand

“Total U.S. Housing starts 1,359 vs 1,368 (TTM) (0.6)%”

Tariff cost pressure on North America segment

“Tariff and trade policy actions have impacted our results of operations and are expected to continue to do so.” · word for word

Declining U.S. housing starts

“Overall U.S. housing starts have been decreasing year over year since 2021.” · word for word

Foreign exchange volatility

“We also experienced increased foreign currency exchange rate volatility, which we attribute, in part, to the rapidly changing global trade environment.” · word for word

Housing market softness may pressure volumes

“Volume declined 1% tied to softer housing start activity; revenue growth expected to moderate”

Tariff and cost inflation pressure on gross margin

“Gross margin declined to 47.8% from 49.8% in North America reflecting impact from tariffs and higher material, labor and factory costs”

Housing Market Sensitivity

“Despite continuing sluggishness in housing starts across the U.S.” · word for word

Tariff Cost Exposure

“price increases to offset rising costs including tariffs on imports” · word for word

European Demand Weakness

“despite a difficult demand environment” · word for word

Tariff impact on margins

“Tariffs and increased depreciation expense will have a negative impact on North America's gross and operating margins.” · word for word

Housing starts decline

“Overall U.S. housing starts have been decreasing year over year since 2021.” · word for word

High debt and interest expense

“Interest expense increased $10.6 million or 5.1% in 2025 compared to 2024 ... We incurred a loss on extinguishment of debt of $13.0 million ... other financing transaction costs ... totaled $44.5 million.”

Preferred stock dividend overhang

“At December 31, 2025, aggregated undeclared and unpaid cumulative dividends totaled $117 million and the redemption value of the preferred stock totaled $750 million.”

Tariff exposure on imported fastener and anchor products pressuring gross margin.

“Gross margin decreased to 46.2% from 46.9% due to tariffs on certain imported fastener and anchor products” · word for word

Higher factory and labor costs impacting margins.

“higher factory and overhead and labor costs” · word for word

Increased leverage with $700M term loan; financial covenants require interest coverage >2.75x and leverage <4.25x.

“Covenants: minimum interest coverage ratio 2.75, maximum total net leverage ratio 4.25.”

Tariff exposure on imported fasteners

“the announced price increases will partly offset the increased costs related to the tariffs that effected a portion of our fastener and anchors sales, while it does not offset tariffs announced after October 15, 2025.” · word for word

Housing market decline

“For 2025, U.S. housing starts could decline in the mid-single digit range from 2024 levels.” · word for word

Volume decline in North America

“North America net sales increased 4.8%, primarily due to price increases ... partially offset by a decrease in sales volume of 2.5%.” · word for word

Foreign currency volatility

“We also experienced increased foreign currency exchange rate volatility, which we attribute, in part, to the rapidly changing global trade environment.” · word for word

Residential housing market softness in U.S. and Europe continues to pressure volumes.

“ongoing softness in residential housing markets across the U.S. and Europe” · word for word

Tariff pressures impacting input costs; partially offset by pricing actions.

“pricing actions, particularly in response to tariff pressures” · word for word

Higher factory, overhead, and warehouse costs pressuring North America gross margin.

“Gross margin declined to 49.0% from 49.5% due to higher factory and overhead as well as warehouse costs” · word for word